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Disclosures about fair value of assets and liabilities (Tables) | 9 Months Ended
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Sep. 30, 2019
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Fair Value Measurements of Assets and Liabilities Recognized on a Recurring Basis | The following table presents the fair value measurements of assets and liabilities recognized in the accompanying condensed consolidated financial statements measured at fair value on a recurring basis and the level within the FASB ASC fair value hierarchy in which the fair value measurements fall at the following:
|  | September 30, 2019 |
|  | Fair Value |  |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  |  | Significant Other Observable Inputs (Level 2) |  |  | Significant Unobservable Inputs (Level 3) |
Available for sale securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury and federal agencies |  | $ | 9,909 |  |  | $ | — |  |  | $ | 9,909 |  |  | $ | — |
State and municipal |  |  | 347,101 |  |  |  | — |  |  |  | 347,101 |  |  |  | — |
Federal agency collateralized mortgage obligations |  |  | 246,083 |  |  |  | — |  |  |  | 246,083 |  |  |  | — |
Federal agency mortgage-backed pools |  |  | 145,597 |  |  |  | — |  |  |  | 145,597 |  |  |  | — |
Corporate notes |  |  | 18,540 |  |  |  | — |  |  |  | 18,540 |  |  |  | — |
Total available for sale securities |  |  | 767,230 |  |  |  | — |  |  |  | 767,230 |  |  |  | — |
Hedged loans |  |  | 320,306 |  |  |  | — |  |  |  | 320,306 |  |  |  | — |
Forward sale commitments |  |  | 266 |  |  |  | — |  |  |  | 266 |  |  |  | — |
Interest rate swap agreements |  |  | (23,343 | ) |  |  | — |  |  |  | (23,343 | ) |  |  | — |
Commitments to originate loans |  |  | (228 | ) |  |  | — |  |  |  | (228 | ) |  |  | — |
|  | December 31, 2018 |
|  | Fair Value |  |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  |  | Significant Other Observable Inputs (Level 2) |  |  | Significant Unobservable Inputs (Level 3) |
Available for sale securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury and federal agencies |  | $ | 16,608 |  |  | $ | — |  |  | $ | 16,608 |  |  | $ | — |
State and municipal |  |  | 209,303 |  |  |  | — |  |  |  | 209,303 |  |  |  | — |
Federal agency collateralized mortgage obligations |  |  | 185,003 |  |  |  | — |  |  |  | 185,003 |  |  |  | — |
Federal agency mortgage-backed pools |  |  | 178,736 |  |  |  | — |  |  |  | 178,736 |  |  |  | — |
Corporate notes |  |  | 10,698 |  |  |  | — |  |  |  | 10,698 |  |  |  | — |
Total available for sale securities |  |  | 600,348 |  |  |  | — |  |  |  | 600,348 |  |  |  | — |
Hedged loans |  |  | 209,161 |  |  |  | — |  |  |  | 209,161 |  |  |  | — |
Forward sale commitments |  |  | 135 |  |  |  | — |  |  |  | 135 |  |  |  | — |
Interest rate swap agreements |  |  | (1,801 | ) |  |  | — |  |  |  | (1,801 | ) |  |  | — |
Commitments to originate loans |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Realized Gains and Losses Included in Net Income for Periods in Consolidated Statements of Income | Realized gains and losses included in net income for the periods are reported in the condensed consolidated statements of income as follows:
|  | Three Months Ended |  |  | Nine Months Ended |
|  | September 30, 2019 |  |  | September 30, 2018 |  |  | September 30, 2019 |  |  | September 30, 2018 |
Non-interest Income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total gains and losses from: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Hedged loans |  | $ | (6,091 | ) |  | $ | 364 |  |  | $ | (17,671 | ) |  | $ | 4,108 |
Fair value interest rate swap agreements |  |  | 6,091 |  |  |  | (364 | ) |  |  | 17,671 |  |  |  | (4,108 | )
Derivative loan commitments |  |  | (429 | ) |  |  | (184 | ) |  |  | (97 | ) |  |  | (1 | )
|  | $ | (429 | ) |  | $ | (184 | ) |  | $ | (97 | ) |  | $ | (1 | )
Other Assets Measured at Fair Value on Nonrecurring Basis | Certain other assets are measured at fair value on a non-recurring basis in the ordinary course of business and are subject to fair value adjustments in certain circumstances (for example, when there is evidence of impairment):
|  | Fair Value |  |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  |  | Significant Other Observable Inputs (Level 2) |  |  | Significant Unobservable Inputs (Level 3) |
September 30, 2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Impaired loans |  | $ | 7,288 |  |  | $ | — |  |  | $ | — |  |  | $ | 7,288 |
Mortgage servicing rights |  |  | 14,114 |  |  |  | — |  |  |  | — |  |  |  | 14,114 |
December 31, 2018 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Impaired loans |  | $ | 5,661 |  |  | $ | — |  |  | $ | — |  |  | $ | 5,661 |
Mortgage servicing rights |  |  | 12,349 |  |  |  | — |  |  |  | — |  |  |  | 12,349 |
Qualitative Information About Unobservable Inputs Used in Recurring and Nonrecurring Level 3 Fair Value Measurements, Other than Goodwill | The following table presents qualitative information about unobservable inputs used in recurring and non-recurring Level 3 fair value measurements, other than goodwill.
|  | September 30, 2019
|  | Fair |  |  | Valuation |  |  | Unobservable |  |  | Range
|  | Value |  |  | Technique |  |  | Inputs |  |  | (Weighted Average)
Impaired loans |  | $ | 7,288 |  |  | Collateral based measurement |  |  | Discount to reflect current market conditions and ultimate collectability |  |  | 0%-100% (11.1%)
Mortgage servicing rights |  |  | 14,114 |  |  | Discounted cash flows |  |  | Discount rate, Constant prepayment rate, Probability of default |  |  | 9.7%-10.0% (9.8%), 10.0%-22.7% (11.3%), 0.0%-1.5% (0.6%)
|  | December 31, 2018
|  | Fair |  |  | Valuation |  |  | Unobservable |  |  | Range
|  | Value |  |  | Technique |  |  | Inputs |  |  | (Weighted Average)
Impaired loans |  | $ | 5,661 |  |  |  | Collateral based measurement |  |  |  | Discount to reflect current market conditions and ultimate collectability |  |  |  | 0%-100% (15.5%)
Mortgage servicing rights |  |  | 12,349 |  |  |  | Discounted cash flows |  |  |  | Discount rate, Constant prepayment rate, Probability of default |  |  |  | 10.2%-11.0% (10.3%), 9.1%-21.9% (9.3%), 0.1%-2.8% (0.6%)

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- Definition Tabular disclosure of the amount of gains or losses for the period included in earnings or resulted in a change to net assets, have arisen from the use of significant unobservable inputs (level 3) to measure the fair value of assets, liabilities, and financial instruments classified in shareholders' equity. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
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